Received cheque of `Rs` 90,000 from Kiran in full settlement of his account `Rs 1,00,000. Calculate discount rate.​

Record the following transactions in Journal in the books of Shyam & Co., Delhi: (i) Received cash from Ram of Delhi for a bad debt written off last year Rs. 10,000. (ii) Paid in cash Rs. 9,800 to Sohan of Delhi on his account for Rs. 10,000 in settlement. (iii) Received Rs. 9,750 from Hari in full settlement of his account for Rs. 10,000. (iv) Bought goods at the list price of Rs. 25,000 from Mohan, Meerut (UP) less 20% trade discount and 2% cash discount and paid 40% by cheque. (v) Sold goods to Rakesh of Delhi at the list price of Rs. 50,000,less 20% trade discount of 2% cash discount and paid 50% by cheque. (vi) Sold goods to James of Kolkata for Rs. 10,000, allowing him a trade discount of 5% and a cash discount of 10% . CGST and SGST is levied @ 9% each on intra-state purchase and sale of goods. IGST is levied @ 18% on inter-state purchase and sale of goods.

Journalise the following transactions in the books of Ashok: (i) Received Rs. 11,700 from Hari Krishan in full settlement of his account for Rs. 12,000. (ii) Received Rs. 11,700 from Shyam on his account for Rs. 12,000. (iii) Received a first and final dividend of 70 paise in the rupee from the official receiver of Rajagopal who owed us Rs. 7,000. (iv) Paid Rs. 2,880 to A.K. Madal in full settlement of his account for Rs. 3,000. (v) Paid Rs. 2,880 to S.K. Gupta on his account for Rs. 3,000.

Journalise the following transactions in the books of Ashutosh, Kolkata: (i) He started business contributing Rs. 10, 000 in cash, Rs. 5,00,000 in cheque and a building valued at Rs. 5,00,000. (ii) Purchased goods from D. Lal, Kanpur for Rs. 2,00,000 out of which cheque was issued for Rs. 60, 000. (iii) Sold goods on credit to Ramesh, Kolkata for Rs. 1,60,000. (iv) Received Rs. 1,84,800 by cheque from Ramesh in full settlement of his account. (v) Paid Rs. 1,74,000 to D. Lal in full settlement of amount due to him. (vi) A new machine of Rs. 2,40,000 was purchased from Machine Tools Ltd., Delhi in exchange of an old machine valued at Rs. 50,000. He gave a cheque of Rs. 1,00,000 from his savings account and balance from firm's account. (vii) Purchased machinery from Pele & Sons, Kolkata for Rs. 50,000 on credit. (viii) Depreciation of Rs. 5,000 was provided on the machinery at the end of the year. (ix) Ashutosh issued a chaque for Rs. 50,000 from his savings account in firm's name. (x) Paid Rs. 5,000 as income tax. (xi) A cheque amounting to Rs. 50, 000 deposited in the bank from his savings account returned dishonoured for technical reasons. CGST and SGST @ 9% each is to be levied on intra-state (within the state purchase and sale ) while IGST is to be levied @ 18% on inter-state transactions.

Journalise the following entries: (i) Goods costing Rs. 500 given as charity. (ii) Sold goods to Mayank of Rs. 1,00,000, payable 25% by cheque at the time of sale and balance after 30 days of sale. (iii) Received Rs. 975 from Harikrishna in full settliment of his account of Rs. 1,000. (iv) Received a first and final dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owed us Rs. 1,000. (v) Charge interest on Drawings Rs. 1,500. (vi) Sold goods costing Rs. 40,000 to Anil for cash at a profit of 25% on cost less 20% trade discount and paid cartage Rs. 100, which is not to be charged from customer.

Received Rs 4,900 from Garima in full settlement of Rs 5,000. Posting of Rs 100 will be made to the :

Trial balance of Anant Ram did not agree. It showed an excess credit of 16,000. He put the difference to suspense account. Subsequently the following errors were located: (i) Cash received from Mohit 4,000 was posted to Mahesh as 1,000. (ii) Cheque for 5,800 received from Arnav in full settlement of his account of 6,000, was dishonoured. No entry was passed in the books on dishonour of the cheque. (iii) 800 received from Khanna, whose account had previously been written off as bad, was credited to his account. (iv) Credit sales to Manav for 5,000 was recorded through the purchases book as 2,000. (v) Purchases book undercast by 1,000. (vi) Repairs on machinery 1,600 wrongly debited to Machinery account as 1,000. (vii) Goods returned by Nathu 3,000 were taken into stock. No entry was recorded in the books

(a) Yogesh commenced business on 1st April, 2011 with a Capital of Rs. 5,00,000 and a loan of Rs. 1,00,000 borrowed from Citi Bank . On 31st March, 2012 , his assets were Rs. 8,00,000. Calculate his closing capital and profits earned during the year. (b) If in the above case, the proprietor had introduced fresh capital of Rs. 40,000 and had withdrawn Rs. 10,000 for personal purposes, calculate his profits.

Prepare Two-column Cash Book of Tarun, Kanpur form the following transactions: 2019 {:("April",1,"Cash in Hand Rs. 1,200, Overdraft"),("April",3,"Capital introduced Rs.20,000 out of which Rs. 16,000 is by cheque and is deposited in the bank."),("April",4, "Purchased goods from Shyam Traders, Lucknow for Rs. 3,000 plus CGST and SGST @6% each and they allowed trade discoung Rs. 200. The amount was paid by cheque."),("April",4,"Goods purchased for cash Rs.4,000 plus CGST and SGST @6% each."),("April",5, "Sold goods to Mohan on credit Rs.5,000 plus CGST and SGSR @6% each"),("April",6,"Received cheque from Rakesh Rs.2,450 after allowing him discount Rs.50."),("April",10,"Cheque received from Rakesh deposited into bank."),("April",11,"Settled the account of Tej printers Rs.750 by paying cash Rs.680."),("April",12,"Cash received from Mohan Rs.4,750 in full settlement of his account of Rs.5,000."),("April",16,"Received Rs.1,000 from Param, whose account of Rs.2,000 was written off as bad bebts earlier."),("April",17,"Received from Muril on behalf of Monohar Rs.200."),("April",19,"Received a cheque for Rs.800 from Mukesh, which was endrosed to Nitin."),("April",20,"Sold old furmiture for Rs.700 plus CGST and SGST @6% each, payment received in cash."),("April",25,"Withdrawn from band Rs.3,000."),("April",28,"Surendra who owed Rs.400 became bankrupt and paid 60 paise in a repee."),("April",30,"Interest debited by bank Rs.375."),("April",30,"Deposited with bank the balance after retaining Rs.2,000 office."):}